Momenta lays off half of its employees, including key executives

Momenta Pharmaceuticals said Monday that it is cutting its workforce by half — a reduction of 110 jobs — and will gut much of its leadership team as part of a dramatic restructuring at the Cambridge, Mass., biotech.

The drug maker is also reducing the amount of money it spends developing generic versions of costly biotechnology drugs, known as biosimilars, and will instead focus its resources on a pipeline of novel drug candidates for diseases stemming from problems with the immune system.

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